{
  "url": "https://openlegislation.uk/public-service-civil-servants-and-others-pensions-regulations-2014/regulation-97",
  "json_url": "https://openlegislation.uk/public-service-civil-servants-and-others-pensions-regulations-2014/regulation-97.json",
  "legislation": "uksi/2014/1964",
  "legislation_title": "The Public Service (Civil Servants and Others) Pensions Regulations 2014",
  "legislation_url": "https://openlegislation.uk/public-service-civil-servants-and-others-pensions-regulations-2014",
  "path": "regulation/97",
  "kind": "regulation",
  "number": "97",
  "heading": "Option for pension credit member to commute part of pension",
  "text": "(1) A pension credit member who becomes entitled to payment of a pension credit member’s pension under this scheme may opt to exchange part of the pension for a lump sum.\n(2) The option under this regulation may only be exercised—\n(a) by notice to the scheme manager in a form required by the scheme manager; and\n(b) before the first payment of the pension is made.\n(3) If a pension credit member exercises the option under this regulation, for every £1 by which the amount of the member’s annual rate of pension is reduced, the member must be paid a lump sum of £12.\n(4) A pension credit member may not exchange pension for lump sum under this regulation to the extent that it would result in a scheme chargeable payment for the purposes of Part 4 (pension schemes etc.) of FA 2004 (see section 241 of that Act).\n(5) This regulation does not apply if the pension debit member from whose rights the pension is derived received a lump sum under Part 6 (retirement benefits) before the date on which the pension sharing order takes effect.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 97 in force at 1.4.2015, see reg. 1(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/1964/regulation/97",
    "retrieved_at": "2026-10-29T00:08:32.082597+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}